National Pension Service Purchases 51,852 Shares of Consolidated Edison Inc $ED

Key Points

• National Pension Service increased its stake in Consolidated Edison by 12.9% in the fourth quarter, buying 51,852 additional shares and bringing its total holding to 454,249 shares worth about $45.1 million.
• Insider activity included a sale by SVP Deneen L. Donnley, who sold 1,922 shares at an average price of $113.94, reducing her position by 5.59%.
• Consolidated Edison recently missed quarterly earnings and revenue estimates, while analysts currently hold a consensus rating of “Reduce” with an average price target of $108.71; the company also announced a quarterly dividend of $0.8875 per share.

National Pension Service raised its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 454,249 shares of the utilities provider's stock after acquiring an additional 51,852 shares during the quarter. National Pension Service owned approximately 0.13% of Consolidated Edison worth $45,116,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Meadowbrook Wealth Management LLC boosted its position in Consolidated Edison by 2.2% during the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider's stock valued at $466,000 after acquiring an additional 100 shares in the last quarter. bLong Financial LLC boosted its position in Consolidated Edison by 1.3% during the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider's stock valued at $772,000 after acquiring an additional 100 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in Consolidated Edison by 1.6% during the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider's stock valued at $689,000 after acquiring an additional 105 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in Consolidated Edison by 0.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider's stock valued at $1,489,000 after acquiring an additional 110 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Consolidated Edison by 36.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 110 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

ED has been the topic of several research reports. Evercore set a $116.00 price objective on Consolidated Edison in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an "underweight" rating in a report on Thursday, March 12th. Scotiabank lifted their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, February 20th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a report on Tuesday, April 21st. Finally, Citigroup reiterated a "buy" rating on shares of Consolidated Edison in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $108.71.

Consolidated Edison Price Performance

ED stock opened at $105.88 on Monday. The firm has a 50 day moving average price of $109.77 and a 200-day moving average price of $106.15. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a market capitalization of $39.02 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.68 and a beta of 0.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's payout ratio is presently 59.76%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.

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